Geoffrey McDonough, CEO: "The third quarter continued to demonstrate solid
underlying growth in product sales and an improvement of the gross margin in
line with our expectations. In September we reported positive top-line results
from our factor IX phase III program with Biogen Idec for the development of a
long-lasting recombinant coagulation factor for hemophilia B. In addition we
were granted priority review by the FDA for our application for Kineret® for the
NOMID indication with an expected approval date in late December 2012. We also
continued to strengthen the Partner Product portfolio through the extension and
expansion of several existing partnerships."
Third quarter
* Total revenues were SEK 463.8 M (447.1). Revenues for the previous year
include co-promotion for ReFacto AF®/BeneFIX® and discontinued products in
the amount of SEK 29.9 M. Adjusted for these items and for currency effects,
total revenues increased by 12%.
* Product revenues(1)) amounted to SEK 306.4 M (328.3), showing an increase of
5% adjusted as above.
* Revenues from ReFacto manufacturing and royalty rose by 33% to SEK 157.4 M
(118.6).
* Gross margin improved to 57.5% (52.3) driven by higher plant utilization
compared to the previous year when the facility in Stockholm was closed for
scheduled maintenance in July and August, and by efficiency gains in
production.
* Operating expenses were unchanged at SEK 227.1 M (227.7).
* The previously published outlook for 2012 remains unchanged.
(1)) Product revenues include Core Products and Partner Products.
Telephone Conference
The interim report for the third quarter 2012 will be presented by CEO Geoffrey
McDonough, COO Alan Raffensperger and CFO Annika Muskantor (Interim) at a media
and analyst telephone conference.
Time: Tuesday, 30 October 2012 at 2 p.m. CET
To participate in the telephone conference, please call:
Sweden: +46 (0) 8 505 598 12
UK: +44 (0) 207 153 91 56
US: +1 866 676 58 69
A recorded version will be available afterwards at www.sobi.com under Investors
& Media/Audio cast. Slides used in the presentation will also be available on
the web site under Investors & Media/Presentations.
About Sobi
Sobi is an international healthcare company dedicated to bringing innovative
therapies and services to improve the lives of rare disease patients. The
product portfolio is primarily focused on inflammation and genetic diseases,
with three late stage biological development projects within hemophilia and
neonatology. Sobi also markets more than 40 products for companies in the
specialty and rare disease space. In 2011, Sobi had revenues of SEK 1.9 billion
and around 500 employees. The share (STO: SOBI) is listed on NASDAQ OMX
Stockholm. More information is available at www.sobi.com.
The above information has been made public in accordance with the Swedish
Securities Market Act and/or the Financial Instruments Trading Act. The
information was released for public distribution on 30 October 2012 at 8:30 CET.
[HUG#1653336]
